Daijiworld Media Network - Udupi (SP)

Udupi, Jun 19: Relating to I Monetary Advisory (IMA) fraud involving thousands of investors and over a thousand crore rupees, for the first time, a case stands registered in the district.

S K Nahida (30), wife of Ismail, residing near Jadeed Jumma Masjid at Kemmannu Tonse here has stated that she has been cheated by the said firm.

Nahida had come to know through her relatives that investments made with IMA Credit Cooperative Society Bengaluru earned interest at the rate of 3.1 percent per month in addition to regular dividends. On December 31, 2018, she has claimed, she had invested Rs 1,000 towards the share capital of the society. She also had invested Rs 50,000 in the company. She had received share certificate and passbook by post.

Thereafter, interest and dividend of Rs 1,250 was credited to her account on January 31. Another amount of Rs 1,278.13 was disbursed to her as dividend on February 28. Thereafter, neither the society's chief executive officer, Mansoor Khan, nor its directors, had remitted any amount. Her principal investment amount was also not returned.

On the basis of Nahida's complaint, a case under sections 406 and 420 of Indian Penal Code has been registered in cyber, economic offences and narcotics (CEN) police station here.